American Express (AXP) Rating Reiterated by Bank of America

American Express (NYSE:AXP)‘s stock had its “neutral” rating restated by research analysts at Bank of America in a research report issued to clients and investors on Thursday. They currently have a $108.00 price objective on the payment services company’s stock. Bank of America‘s price objective would indicate a potential downside of 4.86% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Wells Fargo & Co reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $115.00) on shares of American Express in a report on Tuesday. Atlantic Securities raised shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price target on the stock in a report on Tuesday, January 29th. Credit Suisse Group reaffirmed a “hold” rating and issued a $93.00 price target on shares of American Express in a report on Friday, January 18th. Zacks Investment Research downgraded shares of American Express from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Morgan Stanley reduced their price target on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $112.25.

Shares of NYSE AXP traded up $1.17 on Thursday, hitting $113.52. The company’s stock had a trading volume of 4,777,434 shares, compared to its average volume of 3,613,765. American Express has a 12-month low of $89.05 and a 12-month high of $114.55. The company has a market capitalization of $93.13 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.93 and a quick ratio of 1.93.



American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.06). American Express had a net margin of 17.08% and a return on equity of 30.35%. The business had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same period last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that American Express will post 8.16 EPS for the current fiscal year.

In other news, EVP Richard Petrino sold 2,444 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the completion of the transaction, the executive vice president now owns 7,591 shares of the company’s stock, valued at $813,072.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $103.02, for a total transaction of $1,287,750.00. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Wesbanco Bank Inc. increased its position in American Express by 2.3% during the fourth quarter. Wesbanco Bank Inc. now owns 4,458 shares of the payment services company’s stock worth $425,000 after purchasing an additional 100 shares during the last quarter. Bremer Trust National Association increased its position in American Express by 2.6% during the fourth quarter. Bremer Trust National Association now owns 3,991 shares of the payment services company’s stock worth $380,000 after purchasing an additional 100 shares during the last quarter. Private Ocean LLC increased its position in American Express by 7.3% during the fourth quarter. Private Ocean LLC now owns 1,521 shares of the payment services company’s stock worth $145,000 after purchasing an additional 104 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its position in American Express by 4.5% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 2,434 shares of the payment services company’s stock worth $232,000 after purchasing an additional 105 shares during the last quarter. Finally, IFG Advisory LLC increased its position in shares of American Express by 0.8% in the fourth quarter. IFG Advisory LLC now owns 14,199 shares of the payment services company’s stock worth $1,353,000 after acquiring an additional 108 shares in the last quarter. 84.07% of the stock is owned by hedge funds and other institutional investors.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: What is a Stop Order?

Analyst Recommendations for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.